Marvin Traub and Mohan Murjani Launch Murjani Traub India

Press Release:

Marvin Traub and Mohan Murjani Launch Murjani Traub India Limited

Press Release
News Article February 2005

NEW YORK, February 24/PRNewswire/ -- Marvin Traub and Mohan Murjani announce the launch of Murjani Traub India Limited, (MTI) a Joint Venture company focused on bringing international brands and retailing concepts to India, as well as consulting with Indian retailers and developers in their internal expansion.

With offices both in New York and in Mumbai, MTI will play a key role in both partnering and aiding global brands enter and navigate the Indian retail landscape.

MTI is uniquely qualified to bring brands to India due to the involvement of its principals, who have had extensive experience in both retailing and India.

Mr. Traub, the former Chairman of Bloomingdale's and currently President of Marvin Traub Associates, celebrates this year, 40 years since his first of some 15 trips to India since 1965. As President and Chairman of Bloomingdale's, Mr. Traub led three major storewide promotions of India at Bloomingdale's. Mr. Traub is a great believer in the Indian retail sector and will be focusing considerable resources on India in the years to come.

The Murjani Group, was founded in 1930 by Mr. B.K. Murjani. By 1958, with production of over 10 million units per annum, Murjani became one of the largest apparel producers in the world. In 1976, Mohan Murjani, Chairman, launched Gloria Vanderbilt and became the first Indian to develop and market major Designer Brands in the international market place. Over the years, the Group has developed and launched various major global brands, including, amongst others, Gloria Vanderbilt, Coca-Cola Clothes and Tommy Hilfiger.

In April 2004, Vijay Murjani, Mr Murjani's son, launched Tommy Hilfiger in India. Within the first eight months, Murjani opened six free standing stores, with a further six planned for the first half of 2005. In addition, Murjani has launched several licensed categories, including watches, home, underwear and fragrance, through strategic distribution relationships with some of India's largest and most respected organizations.

India has the world's youngest population, with 65% of the population below the age of 35. With a fast growing middle class with disposable income, 40 million Indians have the purchasing power of Americans. Retailing is rapidly developing, with 300 malls planned by 2007, representing approximately 19mm sq. ft

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